|
Griffin Mining PLC on Wednesday said it is reinstituting a share buyback scheme worth up to $10 million. The Bermuda-registered mining firm has a majority stake in Chinese zinc, silver and gold projects through its Hong Kong subsidiary, China Zinc Ltd. The company’s shares rose 4.6% to 179.98 pence on Monday afternoon in London. The latest round of buybacks follows similar schemes carried out in 2024. Griffin said it will repurchase up to 10 million shares, worth around $10 million, from the market on an ad hoc basis until December 13. The firm said it will aim for ‘value-enhancing’ prices and volumes. All repurchased shares will be cancelled. After the scheme’s end date, Griffin will decide if further buybacks are required to return excess funds. The scheme includes permission to purchase large blocks of shares from individual investors, should their individual stakes be large enough to destabilise the overall share price. Griffin can also buy a larger number of shares through a tender offer, which may be publicised to investors who do not live in the US. As of Wednesday, Griffin has 184,263,481 shares in issue and none in treasury. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
